Using Microsoft Excel complete the following:
A. Calculate the amounts of the adjusting entries and enter them in the adjustments column.
B. Enter the amounts in the adjusted trail balance column.
C. Prepare the Income Statement
D. Prepare the Statement of Owner's Equity
E. Prepare the Balance Sheet
This solution illustrates how to make the most common monthly adjusting journal entries, how to prepare an adjusted trial balance, and how to prepare an income statement, statement of owners' equity and balance sheet using the adjusted trial balance.
... 2. The shaded cells are for data entry. ... Unadjusted Adjusting Adjusted Income Balance Trial Balance Entries Trial Balance Statement Sheet Account Titles Dr ...
... the fiscal year, the following adjusting entries were omitted ... (b) No adjusting entry was made ... Assuming that financial statements are prepared before the errors ...
... Problem III The adjusted trial balance for Chai Tea ... December 31, 2010, make the necessary adjusting entries using the ... Unearned Revenue 2,000 2). Adjustment. ...
... For each of the following items before adjustment, indicate the ...Adjusting entries ensure that all figures relate to a ... 3. The adjusted trial balance has all the ...
... Its trial balance before adjustment on May 31 is as follows. ... Balance May 31 Balance 3,000 May 31 Adjusting J1 800 ... (c) Elston Motel Inc Adjusted Trial Balance ...
... Unadjusted Adjusted Unadjusted Adjusted Accounts Payable $ 47,310 ... the per- petual records need adjustment to ensure ... The adjusting entry would be to debit Cost ...
... Instructions (a) Prepare the adjusting entries. (b) Assuming the adjusted trial balance ... for each account is normal, indicate the financial statement column to ...
